According to the recent research report titled ‘Global Passport Reader Market Size study, by Technology (RFID, Barcode and OCR), by Type (Swipe Readers, Self-Service Kiosk, Compact Full-Page Reader and Others), by Application (Airport Security, Border Control and Others), Sector (Public and Private) and Regional Forecasts 2021-2027’, available with Market Study Report, global passport reader market was worth USD 233.15 million in 2020 and is projected to record a CAGR of 11.5% over 2021-2027, subsequently amassing USD 499.53 million by the end of the forecast period.
 

Increasing number of airports, rising air passengers, and new product launches from major contenders are fueling global passport reader market growth.
 

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According to a July 2021 report of the India Brand Equity Foundation, the Indian government intends to raise the number of operational airports from 153 in 2020 to 190-200 by 2040. Likewise, the International Air Transport Association (IATA) predicts that the number of air passengers would increase to 8.2 billion in 2037, up from about 4 billion in 2018.
 

For the unversed, a passport reader is an imaging device that uses special illuminations to take a photo of the provided identity document, which is then utilized for data reading and document verification.
 

Increasing use of automatic document verification systems at airports, as well as the incorporation of cutting-edge technology such as artificial intelligence (AI) and the Internet of Things (IoT) in passport readers are projected to boost adoption of these devices. For instance, in March 2021, Thales Group deployed over 45 Automatic Border Control Gates (ABC Gates) in Valencia and Bilbao airports, leveraging facial recognition and automatic document verification.
 

Considering restrains, hefty installation costs and technical issues like clandestine scanning is likely to hamper global passport reader industry expansion.
 

Moving on to geographical terrain, Latin America, Asia Pacific, Europe, and North America are the top contributors to the overall market remuneration. The report states that North America currently dominates the market, owing to increasing number of air passengers, and rising public investment in airport infrastructure.
 

On the other hand, Asia Pacific market is expected to witness considerable growth over 2021-2027, creditable to strong presence of leading firms, and increasing number of airports in the region.
 

Elaborating on competitive landscape, Lintech Enterprises Ltd., Shenzhen Rakinda Technology Co. Ltd., Thales Group, Desko GmbH, Beijing Wintone Science & Technology Co. Ltd., Access IS, IER SAS, 3M Company, ARH Inc., and Gemalto N.V. are major contenders in global passport reader market sphere.